Tesla’s niche electric pickup truck has been launched globally and is expected to be available 2025 onwards. While the US and Canada command 54% share of the global pickup truck market and initial reports indicate this new offering garnering close to 7% share in the first year, how does it impact the Indian automotive market?
Well, this launch by Elon Musk-promoted company could actually prove beneficial for the Indian auto component market too. According to Commerce and Industry Minister Piyush Goyal, Tesla was looking to source components worth around $1.9 billion from India. This is almost double of what Tesla sourced the previous fiscal, FY23. The recent upward movement in three specific counters indicate Varroc Engineering, (up 21.56% in last one month) Sandhar Technologies (up 30.69% in last one month) and Sona BLW Precision Forgings (up 1.30% in last one month)
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Brokerage firm, Elara Capital indicates that Sona BLW is likely to be a key beneficiary, if Cybertruck becomes a success, “We remain watchful on whether this pickup truck takes away market share from key OEM, such as General Motors (GM), Ford, and Stellantis (majority of their profit in CY22 came from pickup trucks). While the negative impact would not be immediate, we will monitor this trend, especially for India’s auto components firms’ exposure to the likes of GM, Ford, and Stellantis in the US.”
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Apart from that, there are few other auto component companies that have exposure to these companies and these include SAMIL and Suprajit Engineering. In 2022, Bengaluru-based Suprajit Engineering bought out the light duty cable (LDC) business unit from Kongsberg Automotive for an enterprise value of $42 million. This has given Suprajit access to markets across US, Germany, France, Sweden, and the UK.
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Additionally, the TVS Group-owned, Sundram Fasteners, is making key parts in gear transmission for Tesla as it moves forward with its EV aspirations.
Studies indicate that If Tesla were to achieve the stated target production capacity of 250,000 units and an 80% capacity utilization for Cybertruck in CY25, it would sell 200,000 units in CY25 which implies a market share of 6-7% in CY25 itself. According to analysts at Elara Capital, “While a portion of market believes Cybertruck customer may remain niche and not impact the ICE pickup trucks market of GM, Ford, and Stellantis, we believe given its unconventional looks, design, features, performance and Tesla brand pull, Cybertruck has the potential to surprise on the positive on the demand front.”
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By admin • January 13, 2025 • The stock of One97 Communication advanced 5% to hit the upper band of Rs 370.70 a day after the company got the approval from NPCI to act as a third-party UPI app under the multi-bank model, just like its rivals PhonePe and Google Pay. Earlier, the company’s operations were supported by Paytm Payments Bank, which will shut its operations on March 15 to comply with RBI’s actions.
The company will be able to provide its services to customers through this new model. It has tied up with four other banks, which will become Payment System Provider. Axis Bank, HDFC Bank, Yes Bank, and State Bank have partnered with One97 Communication.
Also, Yes Bank will work as a merchant banker for Paytm’s existing customers as well as for new ones. Now, the UPI handle @Paytm will get redirected to Yes bank.
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By admin • January 2, 2025 • The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the BSE Sensex jumped 149.86 points or 0.19% to 79,105.89.
The broader indices ended in mixed territory, with gain led by Large-cap stocks. IT and Auto stocks outperformed among the other sectoral indices while Metal and Media stocks shed.
Sectoral Index
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Bank Nifty index ended lower by 104.55 points or 0.21% to settle at 49,727.30. The Nifty Midcap 100 fell by 334.45 points, or 0.59%, ending the day’s trading at 56,547.05 Come from Sports betting site VPbet . In the broader markets, small-cap and mid-cap stocks finished in the red.
Markets fall on recessi…
By admin • December 27, 2024 • The benchmark indices rose sharply on Friday after the faster-than-expected gross domestic product (GDP) growth in the third quarter of FY24 and positive global cues buoyed investor sentiment.
The Sensex zoomed 1,245.05 points or 1.72% to close at an all-time high of 73,745.35. The Nifty also jumped 355.95 or 1.62% to hit a record closing high of 22,338.75. The indices closed up for the third consecutive day on Friday.
The mid- and small-cap indices also rose, but the rise was comparatively subduedCome from Sports betting site. Both closed up less than 1% each.
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By admin • December 27, 2024 • Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the positive territory. The NSE Nifty 50 closed 31.85 points or 0.15% higher to settle at 21,544.85, while the BSE Sensex gained 30.99 points or 0.04% to 71,386.21. The broader indices closed in the green, with gain led by Smallcap stocks. Bank Nifty index closed lower by 207.60 points or 0.44% to settle at 47,242.65.
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The NSE Nifty 50 gained 0.18% to settle at 21,552.30, while the BSE Sensex flat at 71,386.21.
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By admin • December 26, 2024 • The Hitman Trilogy, which includes three games in the World of Assassination series, will come to Xbox Game Pass on January 20, IO Interactive announced today as part of the company’s Year 2 reveal. Come from Sports betting site VPbet
The Hitman Trilogy will also be available digitally for direct purchase on January 20 for PS4, PS5, Xbox One, Xbox Series X|S, the Epic Games Store, and Steam. “We’re excited to welcome a wave of new players to enjoy the full trilogy through new platforms and services,” IO said in a news post.
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By admin • December 26, 2024 • New Line’s The Conjuring Universe has made over $2 billion worldwide with its spin-offs and sequels, but Deadline reports that the film series that started it all is about to wrap up. New Line has set a September 5 release date for the final untitled movie, which Conjuring veteran Michael Chavez will helm.
The Conjuring centers around real-life supernatural investigators Ed and Lorrain Warren, played by Patrick Wilson and Vera Farmiga. James Wan directed the original The Conjuring in 2013 and earned nearly $320 million worldwide on a $20 million budget. In addition to the Conjuring and Nun movies, the universe has launched a series of Annabelle features, focused on a doll first featured in The Conjuring.
The Conjuring has spawned merchandise ranging from toys, comic books, Halloween costumes, and even tie-ins with Six Flags who will have Conjuring-themed mazes at this year’s FrightFest.
Of course, while these movies show the Warrens as successful demonologists, th…